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Sep 30, 2021
Reneo Pharmaceuticals Q3 2021 Earnings Report
Reneo Pharmaceuticals reported a net loss for the third quarter of 2021 and provided an update on its clinical programs.
Key Takeaways
Reneo Pharmaceuticals reported a net loss of $12.7 million, or $0.52 per share, for the three months ended September 30, 2021. The company's cash, cash equivalents and short-term investments totaled $157.7 million as of September 30, 2021.
Initiated enrollment of STRIDE, a global, double-blind, randomized, placebo-controlled Phase 2b trial of REN001 in patients with PMM
Completed enrollment in REN001-102, an open-label Phase 1b clinical trial in patients with LC-FAOD
Appointed Ashley Hall as Chief Development Officer to lead nonclinical and clinical operations, global regulatory affairs, pharmaceutical development, and program management
Received a notice of allowance from the USPTO for a composition of matter patent application covering the REN001 drug substance
Forward Guidance
Anticipated Upcoming Milestones include results of the Phase 1b clinical trial of REN001 in McArdle disease (1Q 2022), results of the Phase 1b clinical trial of REN001 in LC-FAOD (2Q 2022), and results of the FORWARD natural history study in LC-FAOD (2Q 2022).
Positive Outlook
- Results of the Phase 1b clinical trial of REN001 in McArdle disease (1Q 2022)
- Results of the Phase 1b clinical trial of REN001 in LC-FAOD (2Q 2022)
- Results of the FORWARD natural history study in LC-FAOD (2Q 2022)
- Credit Suisse 30th Annual Healthcare Conference, November 8 - 11, 2021
- Jefferies 12th Annual London Healthcare Conference, November 16 – 19, 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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